(Continuation from Chapter 4, Number 3)You Have Obtained a Sub-Sample $\begin{aligned}\widehat{\text { Earn }}= & 239.16+5.20 \times \text { Age }, R^{2}=0.05, \text { SER }=287.21 ., \\& (20.24)(0.57)\end{aligned}$

Essay

(continuation from Chapter 4, number 3)You have obtained a sub-sample of 1744
individuals from the Current Population Survey (CPS)and are interested in the
relationship between weekly earnings and age.The regression, using
heteroskedasticity-robust standard errors, yielded the following result: $\begin{aligned}\widehat{\text { Earn }}= & 239.16+5.20 \times \text { Age }, R^{2}=0.05, \text { SER }=287.21 ., \\& (20.24)(0.57)\end{aligned}$
where Earn and Age are measured in dollars and years respectively.
(a)Is the relationship between Age and Earn statistically significant?